830 South Hoover Street
$2,600,000
6
10
8,080
8,080
$322
Listed By Compass
Description
Discover the potential of this exceptional mixed-use property located at 830 S. Hoover Street, nestled in the vibrant heart of Los Angeles's Korea Town. This versatile property features a blend of commercial, office, and residential units, making it an ideal investment for savvy investors or business owners looking to diversify their portfolio. The property includes three commercial retail units, each generating solid rental income, with two units at $2,180 per month and a third unit at $2,380. Above,...Discover the potential of this exceptional mixed-use property located at 830 S. Hoover Street, nestled in the vibrant heart of Los Angeles's Korea Town. This versatile property features a blend of commercial, office, and residential units, making it an ideal investment for savvy investors or business owners looking to diversify their portfolio. The property includes three commercial retail units, each generating solid rental income, with two units at $2,180 per month and a third unit at $2,380. Above, there are three office units, two of which are currently vacant, providing additional opportunities for rental growth. The occupied office unit is leased at $1,650, while the vacant units offer potential rents of $2,000 and $3,000. The residential component includes four apartments: a spacious three-bedroom, two-bathroom unit at $2,000, a studio at $1,400, a one-bedroom at $1,500, and another studio at $1,300. With a total rent potential of $19,590 per month, this property generates a Net Operating Income (NOI) of $176,310 annually, translating to a favorable cap rate of 6.1% and a Gross Rent Multiplier (GRM) of 12.3. Positioned in a prime location with high visibility and foot traffic, this property not only offers strong rental demand but also presents an incredible opportunity for value-add renovations in the vacant units. Whether you're looking to expand your real estate portfolio or step into a lucrative investment, 830 S. Hoover Street is a remarkable chance to capitalize on the dynamic local market. Don't miss out; contact us today to schedule a viewing or for more information!
Listing Agents
Property Details for 830 South Hoover Street
Zoning
LAC2
StyleOther
Parcel Number5141026007
Total Units10.0
Living Area8080
Source Living AreaVendor Enhanced
AreaDowntown L.A. (C42)
Vacancy Rate0
LISTING UPDATED: 11/06/2024 07:41 PM
Property Details for 830 South Hoover Street
Status | Active |
---|---|
MLS # | 24-445057 |
Days on Market | 53 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 1966 |
Lot Size | 0.14 AC / 6,310 SF |
County | Los Angeles County |
Building Information for 830 South Hoover Street
Stories2Residences-Year Built1966Building Size-Lot Size0.14 AC / 6,310 SF
Property Information for 830 South Hoover Street
Property History for 830 South Hoover Street
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 830 South Hoover Street
Taxable ValueLand$937,420Additions$534,808Total$1,472,228
Tax Record2024$18,653 ($1,554 / month)
Home Facts
Total Finished SqFt8,080 SqFtAbove Grade Finished SqFt8,080 SqFtStories1Lot Size6,308 SqFtStyleOffice BuildingYear Built1966ZoningLAC2CountyLOS ANGELESAPN5141-026-007
Schools near 830 South Hoover Street
This home is within Los Angeles Unified School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | K to 5 | |||
Public - | 6 to 8 | |||
Public - | 9 to 12 | |||
Public - | 9 to 12 |
Rating | School | Distance |
---|---|---|
Hoover Street Elementary School PublicK to 5 | ||
Berendo Middle School Public6 to 8 | ||
Academic Leadership Community School Public9 to 12 | ||
Contreras Learning Center-School Of Social Justice Public9 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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